Original-condition corner condo townhouse in Scarborough Village, priced for a renovate-and-hold play
Three-bedroom multi-level corner condo townhouse, largely original since 1977, listed at $575,000 in Scarborough Village. The estimated 4.4% cap rate supports a cosmetic-renovation resale or a moderately leveraged buy-and-hold once updates lift rent.
Anatoli Chtcherbatov
Analyst · Sutton Group Admiral Realty
List price
$575,000
Cap rate
+4.40%
Est. monthly rent
$3,250
Source: comparables_widened
Est. net spread
+$127K
6mo hold
Annualized ROI
+44%
preliminary
Section · Why this passed our floor
What lifts the math here
Current cap
4.40% on the existing single-unit rent. The thesis is the income uplift after the conversion is complete, not today's number.
Projected post-conversion spread
$127,188 estimated over a 6-month hold using default market reno costs and the underwritten rent source.
Recommended leverage
50% down to reach neutral or positive carry during the conversion window.
Rent backed by
Estimate sourced from city-wide comparables, not a CMHC fallback.
Every property published on 6Yield clears a multi-stage screen — universal financial floor, per-tier quality gate, and an editorial review on listing evidence. These bullets summarize the specific facts that cleared this property’s tier. Estimates only; not financial advice.
Fix-and-flip projection
The spread, before the buy-and-hold math.
Preliminary · adjust scope & uplift
Renovation scope
Projection
Preliminary estimate. Renovation costs use 6Yield default per-sqft figures. Post-renovation value is modeled as a multiple of list price — replace with comparable post-renovation sales for higher precision. Carrying costs include property tax, condo fees if any, and insurance; financing costs not yet modeled.
Section · Buy-and-hold backup
If you held instead. The carrying math, side by side.
Each column shows the actual monthly cash flow and cash-on-cash return at that leverage. Click a column for the full breakdown.
Acquisition
| Down payment | $201,250 |
| Mortgage principal | $373,750 |
| Land transfer tax | $8,625 |
| Closing costs | $8,625 |
| Total acquisition | $218,500 |
Monthly cash flow
| Estimated rent | +$3,250 |
| Operating expenses | -$1,141 |
| Mortgage payment | -$2,183 |
| Net cash flow | -$74/mo |
Expense breakdown
| Property tax | $0/mo |
| Vacancy allowance | $163/mo |
| Maintenance reserve | $479/mo |
| Insurance | $240/mo |
| Property management | $260/mo |
Calculated at 4.99% mortgage over 25 years. Rent estimated from comparable rentals (n=27).
Breakeven
This property turns cash-flow positive at 37.2% down.
Run your own scenario
Move the assumptions. See the math live.
Live result
All figures are estimates only and do not constitute financial advice. The sliders use the same math as the locked five-scenario calculator; only assumptions change. Total acquisition includes the down payment, land transfer tax ($8,625), and closing costs ($8,625).
Section · Investment Thesis
Why this property.
This listing targets the value-add investor willing to modernize a 1977-era corner unit and either resell into the renovated-townhouse comp set or hold for income. The estimated 4.4% cap rate and $3,250 projected monthly rent give the underwriting a workable floor at $575,000, but the condition is the lever. The owners held the unit for over 33 years and the interior is largely original, so a cosmetic refresh of kitchen, bathrooms, and flooring is the path to both higher rent and a resale spread.
Scarborough Village sits inside the Eglinton GO and Guildwood GO catchments, with TTC bus service feeding Kennedy Station on Line 2 and the forthcoming Scarborough Subway Extension. Day-to-day demand is anchored by RioCan Shopping Centre, Walmart Supercentre, and Scarborough General Hospital, with Bethune and Guildwood parks and the Lake Ontario waterfront trail system on the south flank. The corner-unit footprint, indoor pool, gym, and visitor parking are amenities that rent at a premium against interior-unit stack comps in the same building. Lakeside Scarborough condo townhouse stock is finite, which supports exit pricing for a renovated three-bedroom layout.
Carry only works with capital. At 20% down, estimated monthly cash flow is negative $577.68; at 35% down it narrows to negative $73.98, effectively breakeven. The unit turns cash-flow positive at 50% down with an estimated $429.73 per month and 1.69% cash-on-cash. Plan for a 24 to 36 month hold: complete the cosmetic renovation in months 1 to 4, stabilize a tenant at market rent, then either refinance against the lifted appraisal or list into the renovated comp set.
Key features
- Corner multi-level condo townhouse, three bedrooms plus two bathrooms
- Largely original 1977 interior, cosmetic renovation candidate
- Private fenced backyard with interlocked patio
- Oversized primary bedroom with enclosed sunroom walk-out, walk-in closet, and 2-piece ensuite
- Building amenities: indoor pool, gym, recreation room, visitor parking
- Minutes from Guildwood GO and Eglinton GO Stations, TTC bus service
- Walking distance to RioCan Shopping Centre, Walmart Supercentre, and Scarborough General Hospital
Original MLS description
Discover the potential of this rarely offered CORNER multi-level condo townhouse in the heart of Scarborough Village. Owned and meticulously maintained by the same owners for over 33 years, this spacious residence presents an exceptional opportunity to renovate and customize to your personal taste. Largely original since 1977, the home has been well cared for and provides a solid foundation for those looking to create a modern living space tailored to their needs. Its generous layout features expansive principal rooms, abundant storage, and large windows that fill the interior with natural light. The functional kitchen includes a well-sized eat-in area with a window-perfect for casual dining or entertaining. The bright living area opens through sliding glass doors to a private, fenced patio, offering a seamless indoor-outdoor lifestyle. Upstairs, the oversized primary bedroom boasts a walk-out enclosed sunroom, walk-in closet, and convenient 2-piece ensuite. Two additional spacious bedrooms provide flexibility for growing families, guests, or a home office. Upgraded 4pc Bathroom. Private fenced backyard with interlocked patio - ideal for entertaining guests and enjoying family time! Ideally located just minutes from major amenities including RioCan Shopping Centre, Walmart Supercentre, TTC transit, Guildwood and Eglinton GO Stations, parks (Bethune and Guildwood), Scarborough General Hospital, and the scenic Lake Ontario waterfront. Enjoy easy access to nature trails, green spaces, and everyday conveniences. Residents also benefit from a variety of building amenities, including an indoor pool, gym, courtyard + pathways, recreation room, and visitor parking. A rare opportunity to own a generously sized home in a sought-after lakeside community - perfect for buyers looking to add value and make it their own! (42785118)
All photos
38 additional · click any to expand
Section · Neighborhood
Where it sits.
Scarborough Village
Scarborough Village is a mature lakeside community in southeast Scarborough, framed by Kingston Road to the north and the Lake Ontario bluffs to the south. The unit sits minutes from RioCan Shopping Centre, Walmart Supercentre, Scarborough General Hospital, and Bethune and Guildwood parks, with Guildwood and Eglinton GO Stations providing Lakeshore East rail service into Union.
The neighborhood draws a mix of long-tenured owners and rental demand tied to hospital staff, GO commuters, and families priced out of Bluffs-adjacent freeholds. Condo-townhouse supply with three bedrooms and private fenced patios is limited, which supports both rental absorption and resale liquidity after renovation.
Section · Risk
What could go wrong.
Honest framing of unknowns, assumptions, and downside scenarios.
Property is largely original since 1977; budget for full cosmetic renovation including kitchen, bathrooms, flooring, and mechanicals as needed
High leverage sensitivity: negative carry at 20% and 35% down, breakeven only at 50% down or higher
Condo townhouse subject to monthly maintenance fees that compress net cash flow; verify current fee, reserve fund study, and any pending special assessments
Rent estimate sourced from widened comparables rather than direct in-building comps; actual achievable rent may vary post-renovation
Resale liquidity tied to broader Scarborough condo-townhouse market conditions at exit